Hello @umair ,
Here are the answers for your questions about VAT in UAE.
- Will there be multiple VAT slabs? If yes, what will it be?
Yes there will be 3 slaps: 5%, 0%, and Exempted
2.Will there be VAT TIN for each company? If yes, will it be required fetched in the transactions as well?
Yes there will TIN, I am not sure if it will be fetched in transaction or not. The UAE VAT is almost copy paste from UK and EU VAT, so what applies there will most probably apply here.
- What would be the process of filing returns? Which all report will be required for it.
The filling will be manual, not generated from the system as of now.
Will ERPnext have mechanism to set particular customer groups as VAT Exempted, or VAT 5%, or VAT 0%? We would like to see this kind of intelligence in ERPnext. The same may apply to Supplier group and item group.
How easy or difficult is it to make ERPnext UAE VAT compliance?
Regards,
Ahmed, NEST